Why it’s a bad idea to transfer your US IRA to your Canadian RRSP ep#29
On episode #29 of Crossing the 49th Podcast, we discuss why transferring your IRA to an RRSP might not be a good idea.
Understanding Why You Should Think Twice Before Transferring Your IRA to an RRSP | Cross-Border Tax and Financial Planning
In this episode of Crossing the 49th, I explain the potential pitfalls of transferring your IRA to an RRSP, a common consideration for U.S. expats in Canada. I also discuss alternative strategies that may better suit your financial goals.
Key Topics:
- Overview of IRAs and RRSPs
- Reasons you might consider an IRA to RRSP transfer
- Challenges and downsides of transferring your IRA to an RRSP
- Better alternatives to transferring your IRA
- The role of a cross-border adviser in managing your retirement accounts
You can download a copy of the presentation here: https://newsglobal.ca/wp-content/uploads/2024/09/IRA-to-RRSP-transfers-Beacon-Hill-Wealth-Management.pdf
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Disclaimer: The information contained in this Podcast and YouTube video is for information purposes only and should not be construed as tax or financial planning advice. Tax and financial planning rules change from year to year and the information contained within may be outdated. Ensure to engage an experienced and competent tax and financial planner to help you with your tax and financial planning needs.